document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=758453>Question 758453</A>: <I><SPAN STYLE=\"word-break: break-all;\"> if $ 10,000 is invested in an account at 3% annual interest compounded quaterly, how much will be in the account in 5 years if no money is withdrawn? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #461477 by </B><A HREF=/tutors/aboutme.mpl?userid=lwsshak3><B>lwsshak3(11628)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=lwsshak3><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=461477\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> if $ 10,000 is invested in an account at 3% annual interest compounded quaterly, how much will be in the account in 5 years if no money is withdrawn?<BR>\n" );
document.write( "***<BR>\n" );
document.write( "compound Interest formula: A=P(1+i)^n, i=interest rate per period, P=initial investment, n=number of periods, A=amount after n periods.<BR>\n" );
document.write( "For given problem:<BR>\n" );
document.write( "P=$10,000<BR>\n" );
document.write( "i=.03/4=0.0075<BR>\n" );
document.write( "n=5*4=20<BR>\n" );
document.write( "..<BR>\n" );
document.write( "A=10000(1+.0075)^20<BR>\n" );
document.write( "A=10000(1.0075)^20<BR>\n" );
document.write( "A=10000*1.1612<BR>\n" );
document.write( "A=11,612<BR>\n" );
document.write( "how much will be in the account in 5 years=$11,612 </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );